Cornerstone said its program to raise margins and earnings growth is heading nicely, but the company’s fourth quarter outcomes fell quick of anticipations.
The corporation claimed a fourth quarter internet decline of $9 million, or 16 cents a share, on earnings of $132 billion, up 21 % from a year back. On a non-GAAP foundation, Cornerstone claimed earnings of 19 cents a share.
Wall Avenue was expecting fourth quarter earnings of 21 cents a share on earnings of $133.26 million.
For 2017, Cornerstone claimed a internet decline of $61.3 million, or $1.07 a share, on earnings of $482 million, up 13.9 % from a year back.
In November, Cornerstone said it reviewed its enterprise together with takeover interest and made a decision to consider an financial investment from Microsoft’s LinkedIn and Silver Lake. The program is to raise growth and profitability.
CEO Adam Miller said:
In the last 3 months, we have made potent development from our strategic transformation program. We are generating the ideal alterations to drive recurring earnings growth and working margins.
As for the outlook, Cornerstone projected earnings of $126 million to $128 million, up 14 % from a year back. Wall Avenue was expecting earnings of $122.36 million.
For 2018, Cornerstone is projecting earnings of $497 million to $507 million.